Is First Republic Bank Next to Go?
Real Vision: Finance & Investing
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The At1 Bonds - Who Should Hear the Losses?
Jared Bernstein: It's interesting to see bondholders essentially getting wiped out while the common stockholders wind up with something. The capital structure was built to take first loss in the wake of the 2007-2008 financial crisis, he says. "If you take the bondholders money, nobody feels bad for them"
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